Economic Growth Around the World Spurs Prices for Crude

Crude oil rose today as signs of global economic growth spurred hopes that demand for fuel will increase. The US services Purchasing Managers’ Index was at 55.2 percent in January, near the December’s 10-month high.

Futures for delivery of WTI crude oil in March rose $0.56 (0.57 percent) to $96.73 per barrels as of 19:54 GMT on NYMEX today. March contract for Brent crude advanced $0.94 (0.80 percent) to $116.54 per barrel on ICE.
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